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Accenture Deploys New Software License Management Application on Digital Asset’s Distributed Ledger Platform

November 12, 2018

NEW YORK--(BUSINESS WIRE)--Nov 12, 2018--Accenture (NYSE: ACN) has completed its first transactions using a distributed ledger technology (DLT)-based application that delivers enhanced enterprise software asset management capabilities. The new application uses Digital Asset’s smart contract language, DAML, to model and enforce software license events throughout their lifecycle, from origination to purchase, which simplifies tracking, usage and audit functions.

“We manage a significant portfolio of software licenses across businesses, clients and geographies, which demands relevant policies and procedures supported with the right technology. While software asset tracking and management tools have evolved, it can still be a daunting task for any large organization to manage,” said Melanie Cutlan, senior principal, Accenture Operations blockchain lead. “The power of DLT will simplify the traceability of these licenses, and, therefore, the auditing function so all can see where each license is assigned. This has the potential to save organizations millions of dollars per year in the management of their software license portfolios.”

The patent-pending capability was developed by the Accenture Operations team using the Digital Asset (DA) Platform and fits seamlessly with its existing best-in-class software asset management (SAM) capabilities. DA uses distributed ledgers to execute complex, multi-party business processes in a cryptographically secure environment. This collaboration has expanded DA’s reach beyond its production work with the world’s largest financial institutions. New functionality and capabilities will be added to the platform in its next release.

“This new software asset management application shows that DAML and DLT can deliver significant operational efficiencies to use cases beyond financial services,” said Chris Church, chief business development officer at Digital Asset. “The delivery of this application also represents a tremendous milestone for us since this is the first application built for a non-financial use case to go into production on the Digital Asset Platform.”

Improper software usage or failure to comply with the license use rights can be costly to businesses and can negatively impact brand and reputation. Accenture’s software management capability will allow organizations to reduce these risks and have better transparency to the distribution and utilization of licenses.

About Accenture Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions — underpinned by the world’s largest delivery network — Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With 459,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.

About Digital Asset Founded in 2014, Digital Asset has nearly 200 employees working and serving global clients from New York, London, Zurich, Budapest, Sydney, and Hong Kong. Digital Asset’s exceptionally talented people, its fit for purpose distributed ledger platform and smart contract modeling language, DAML, have enabled the company to emerge as a leading global provider of distributed ledger technology (DLT). Digital Asset’s clients include systematically consequential financial institutions, such as the Hong Kong Exchanges Company Limited (HKEX), the Australian Securities Exchange (ASX) and industry partners like Accenture. To learn more about Digital Asset, please visit www.digitalasset.com.

This document makes descriptive reference to trademarks that may be owned by others. The use of such trademarks herein is not an assertion of ownership of such trademarks by Accenture and is not intended to represent or imply the existence of an association between Accenture and the lawful owners of such trademarks.

Forward-Looking Statements Except for the historical information and discussions contained herein, statements in this news release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook” and similar expressions are used to identify these forward-looking statements. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied. These include, without limitation, risks that: the transaction might not achieve the anticipated benefits for the company; the company’s results of operations could be adversely affected by volatile, negative or uncertain economic conditions and the effects of these conditions on the company’s clients’ businesses and levels of business activity; the company’s business depends on generating and maintaining ongoing, profitable client demand for the company’s services and solutions, including through the adaptation and expansion of its services and solutions in response to ongoing changes in technology and offerings, and a significant reduction in such demand or an inability to respond to the changing technological environment could materially affect the company’s results of operations; if the company is unable to keep its supply of skills and resources in balance with client demand around the world and attract and retain professionals with strong leadership skills, the company’s business, the utilization rate of the company’s professionals and the company’s results of operations may be materially adversely affected; the markets in which the company competes are highly competitive, and the company might not be able to compete effectively; the company could have liability or the company’s reputation could be damaged if the company fails to protect client and/or company data from security breaches or cyberattacks; the company’s profitability could materially suffer if the company is unable to obtain favorable pricing for its services and solutions, if the company is unable to remain competitive, if its cost-management strategies are unsuccessful or if it experiences delivery inefficiencies; changes in the company’s level of taxes, as well as audits, investigations and tax proceedings, or changes in tax laws or in their interpretation or enforcement, could have a material adverse effect on the company’s effective tax rate, results of operations, cash flows and financial condition; the company’s results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates; the company’s business could be materially adversely affected if the company incurs legal liability; the company’s work with government clients exposes the company to additional risks inherent in the government contracting environment; the company might not be successful at identifying, acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses; the company’s Global Delivery Network is increasingly concentrated in India and the Philippines, which may expose it to operational risks; as a result of the company’s geographically diverse operations and its growth strategy to continue geographic expansion, the company is more susceptible to certain risks; adverse changes to the company’s relationships with key alliance partners or in the business of its key alliance partners could adversely affect the company’s results of operations; the company’s services or solutions could infringe upon the intellectual property rights of others or the company might lose its ability to utilize the intellectual property of others; if the company is unable to protect its intellectual property rights from unauthorized use or infringement by third parties, its business could be adversely affected; the company’s ability to attract and retain business and employees may depend on its reputation in the marketplace; if the company is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; any changes to the estimates and assumptions that the company makes in connection with the preparation of its consolidated financial statements could adversely affect its financial results; many of the company’s contracts include payments that link some of its fees to the attainment of performance or business targets and/or require the company to meet specific service levels, which could increase the variability of the company’s revenues and impact its margins; the company’s results of operations and share price could be adversely affected if it is unable to maintain effective internal controls; the company may be subject to criticism and negative publicity related to its incorporation in Ireland; as well as the risks, uncertainties and other factors discussed under the “Risk Factors” heading in Accenture plc’s most recent annual report on Form 10-K and other documents filed with or furnished to the Securities and Exchange Commission. Statements in this news release speak only as of the date they were made, and Accenture undertakes no duty to update any forward-looking statements made in this news release or to conform such statements to actual results or changes in Accenture’s expectations.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20181112005208/en/

CONTACT: Alison Geib

Accenture

+1 703 947 4404

alison.geib@accenture.com

KEYWORD: UNITED STATES NORTH AMERICA NEW YORK

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT NETWORKS SOFTWARE

SOURCE: Accenture

Copyright Business Wire 2018.

PUB: 11/12/2018 08:59 AM/DISC: 11/12/2018 08:59 AM

http://www.businesswire.com/news/home/20181112005208/en

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